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Financing Your Home >Qualifying For A Loan

It is useful for home buyers to understand the difference between loan pre-qualification and pre-approval. Pre-qualification, which in today's marketplace is usually done by mortgage brokers, means working with the buyers to determine how much they can afford and which loans are the most likely to be available to them. Loan pre-qualification can save buyers time and money and can even be a bargaining tool with a seller. However, pre-qualification is not the same as loan "pre-approval". The mortgage broker can often get the buyer a pre-qualification letter, but pre-approval must be issued by the mortgage lender.

Pre-approval means that the lender has definitely committed to loaning the buyer money, once the house itself is approved. Since it is a much stronger pledge, it is a much more valuable negotiating tool. When you hear someone talking about "pre-approval", they are referring to specific acknowlegment by a lender that they are willing to loan the buyer money. The real estate agent can be of assistance in this process.

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Q	Which famous skilled mason laid the cornerstone of the Capitol Building in Washington, D.C. in 1793?
A	George Washington, the first President of the United States.
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Philadelphia Moves

Louise D'Alessandro & Janice Manzi
Elfant Wissahickon Realtors
1511 Bethlehem Pike
Flourtown, PA. 19031
215-233-3434 x 514
215-852-9312
215-680-7616
Fax: 215-233-0903
Email: philadelphiamoves@NUMBER1EXPERT.com
We give our clients exactly what they need in real estate agents insiders access to all available homes, expert negotiating skills, clear communication and thorough attention to detail....What initially attracts homebuyers to Northwest Philadelphia and the bordering communities in Montgomery County, are the unique stone houses, the extraordinary parkland, and the vibrant shopping and dining. What keeps them here are the vibrancy and the diversity of the people who live here....If you are looking to buy or sell in the communities of Chestnut Hill, Mt. Airy, Roxborough, East Falls, or Manayunk; or the bordering communities in Montgomery County, such as Springfield Township, Whitemarsh, Cheltenham, Flourtown, Erdenheim, Wyndmoor, or Oreland, contact Louise D'Alessandro and Janice Manzi. We can help you move your dreams forward.

Louise D'Alessandro - license# RB-044908-A
Janice Manzi - # RS-284974

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